Property sales in the Manawatu and Wanganui region at 270 in the month eased very slightly on a seasonally adjusted basis in June, and was up 4% as compared to a year ago. The inventory of unsold houses on the market fell to 38 weeks reversing a rise seen in May, this now puts the level of unsold houses on the market below the long-term average of 41 weeks of equivalent sales.

Median sales price of properties sold in the Manawatu and Wanganui regions at $226,050 was down 2% as compared to a year ago, and very slightly lower than the figure in May. The asking price expectation of new listings was up 5% as compared to a year ago at $274,731.

The level of new listings coming onto the market in June at 578 was up from prior month and up a significant 54% as compared to a year ago.